[morganplus8]

I thought I would start a new thread with some Technical Analysis of RIMM stock considering that we are moving above $ 10.00/shr mark today, which is a milestone for sure.

Here is the latest chart on RIMM:

As you can see, RIMM is very strong here, it has broken out of a pennant formation and is hyper in the short-term. The goal is for it to close above the round number of $ 10.00/shr and in particular, to close above its 200 Day Moving Average (currently at $ 10.12/shr)!! We are trying to do that now.

What it has going for it is momentum, the stock is over-bought on an RSI basis of 70 being the high, meaning that it needs to rest here and regroup for the big push up. Despite the over-bought scenario, it is trying to pop above these milestones right now. One of the reasons for it being able to do this is the simple fact that the stock has moved into strong hands. The short position in the stock is not able to control the price any longer and longs are able to dry up shares in here.

And so, we are likely to take out the two milestones mentioned and the trifecta here is the seasonal force of December, normally a strong month, the pending launch of BB 10 in January and guys like Prem Watsa controlling the short position and forcing them to cover. I look for the stock to close above the 200-dma and then head for at least $ 12.50/shr proir to the end of the year and then at least $ 15.00/shr before BB 10 is launched. Now that is a great return on your investment!! Good luck!

[VeGiTo]

We just came out of a pretty strong "bullish flag" pattern. I've been accumulating the stock as well when it was range-bound between 7 and 8.

Not much has really changed fundamentally from 2 months ago - guys like us who have been paying attention already knew BB10 was coming out in Q1, and likely leaning towards the early part of Q1. An "analyst" named Peter Misek came out last month and speculated that BB10 is "delayed" until March, and the media reported it as gospel. But we knew better. I've said before many times that he's way off mark, and now he seems to have made an about face.

What really changed in the last 2 months is the general public's sentiment, which is reflected in the chart patterns. I look at probably hundreds of articles and videos on RIM a day (as I'm sure many of you do), and I can really say that the sentiment is changing in a very big way, in no small part due to Thor's co-ordinated media blitz. They have begun to crossed over from a "negative" perception to a "neutral" wait-and-see attitude. Now RIM just need to keep building on the momentum as we get closer to launch.

[hoopitz]

Great to see! It's becoming a LOT more tolerable to read bout RIM in the news, now that people seem to have changed their tunes a bit.

[ibpluto]

I'm a boob ....no less then a couple weeks ago, I mulled over dumping a bunch of money into RIMM. Spoke with my broker and told him I would sleep on the idea and see if I grow some balls overnight. Well the balls never grew and I didn't buy. That was almost $2.00 ago.

[randall2580]

Closing that gap on the far left hand side was huge from a technical POV. Nature abhors a vacuum, even on technical analysis. Now that it's cleared the resistance - turned support high point of that gap pretty handily should be able to assault that congestion area up near 11.25. As you have above would love a little consolidation first before the leg leg higher, the RSI says it's a good idea but bull markets can see RSI in the 90's before they correct in a serious way. Still I prefer to avoid an "impulsive" move and steadily work higher. Charts that "back and fill" like this leg has on the chart you have above are usually the best kind of rallies.

Just one man's opinion. My day job includes technical analysis but I do not do stocks and my opinion is no better than anyone else's, especially those who do their homework!

[Thunderbuck]

I actually sold off my holdings today, in anticipation of at least one more dip before the BB10 launch. I've got a buy limit order; if it hits $9.20 by the end of next week (and I'm pretty sure it will pull back enough to hit that), I've got an order set to buy 400 to replace the 375 I sold today.

[theRock1975]

I'm all in and my average cost is much higher than 10$ The heck with diversification! Even Ben Bernanke only owns 1 stock..nothing wrong with that.

im not worried at all!! As a developer, i know this qnx thing will be huge! Rim was able to generate 6$ a share earnings just a few years ago. imagine next year with rich app store, mobile fusion, 100 million paying customers, bbm music, automotive or machine bis accounts...

Sent from my BlackBerry 9900 using Tapatalk

[morganplus8]

So here is an update on RIM and a comparison with AAPL (Apple):

As you can see by the Canadian price of RIM today, it is flying off the shelves as National Bank raised their target to my $ 15.00/shr level. The stock is above all major indicators now (the 200-100-50-dma) and over-bought big time. Note the RSI is to the moon!):



We are flying as shorts are getting nervous, the media is all over this play and for the most part, it is positive. The question is: "how high can it go"? Well, Prem Watsa can answer that question as a consortium of investors are probably pushing it up here.

Let's look at AAPL, it is anything but bullish having broken below its 50-dma, 100-dma and 200-dma. It is mounting a rally based upon it being over-sold in the near-term and looks to be breaking above the downtrend line set from the highs. The general market looks good too and that is why we can see a nice rally here for the balance of the year.



Getting back to RIM, there is resistance at $ 12.50/shr here, not that much and then its off to $ 13.00/shr and higher. All RIM has to do is announce a deal with Samsung for BB 10 and you can throw out all projections here. TA works when there is no news. News trumps TA.

Good luck to all and let's see how far Prem can get this play to go!!!